![](https://i.imgur.com/WCVkJGy.png) [Source](https://cdn.pixabay.com/photo/2016/11/10/05/09/bitcoin-1813503_960_720.jpg)
Did you say Bitcoin price is going to the moon? How about “Bitcoin IN space?” All this still seems unrealistic, but the crypto world is heading up, literally. **The first Bitcoin transaction in space via Blockchain Satellite, took place on a network-disabled computer on August 21st 2017.** CEO Adam Back Tweeted, confirming the transaction. The satellite node belonging to Grubles, the BitcoinVPS creator received the first transaction. ![](https://i.imgur.com/SR6M4aN.png) The Blockstream website describes its satellite venture: ![](https://i.imgur.com/yaOJEha.png) # Introduction to the Blockstream Satellite Network **Using Bitcoin without Internet access.** The Blockstream Satellite network is meant to allow the use of Bitcoin without the need for Internet. *It is important to mention that Blockstream uses leased satellites.* • The satellite broadcasts the Bitcoin blockchain to the entire planet, in three phases. • This benefits around 4 billion people with no internet access. • No network is involved, thus eliminating all mid-transaction network interruptions. • Using Software Defined Radio (SDR) technologies. This is open source and offers cost-effective satellite communications. • This eliminates the need for outrageously expensive specialized satellite equipment. According to Back, the company guarantees a 64kbit/sec connection, which means you get *“adequate bandwidth to reliably maintain synchronization with the network with modest delay.”* ## Equipment Needed and Approx. Costs Involved ![](https://i.imgur.com/3pNMu86.png) [Source](https://upload.wikimedia.org/wikipedia/commons/f/f4/Satellite_dish_%28Television%29.jpg) • Satellite dish – 45 centimeters (Your TV satellite) • Personal computer or hardware such as Raspberry Pi • Open-source software like GNU Radio for radio connection [Find more information about the equipment needed here.](https://github.com/blockstream/satellite) While users will be able to run a full-node, the only caveat at this point is the need for an Internet connection to make Bitcoin transactions. *But Back explained that this is done via an SMS.* **USD100** *is all you need to spend on the equipment needed to connect your computer to the Blockstream Satellite, according to the company.* With more than half the people in the world not having internet connection, and others having to pay exorbitant amounts for internet access, Blockstream’s satellite broadcast opens up a world of opportunities to use Bitcoin, for people living anywhere in the world. # Blockstream Satellite Network Beta The beta is currently open to people from *North America, *South America, Africa and Europe*. Wherever you are in these regions, you can now join the beta and download a *fully functional* Bitcoin node. Can there be a more secure place for your Bitcoin than several miles above the earth? # About Blockstream ![](https://i.imgur.com/4IVjoC9.png) [Source](https://upload.wikimedia.org/wikipedia/commons/e/e9/Blockstream.jpg) Blockstream, known to be one of the biggest funders for Bitcoin Core, boasts of several big names in Bitcoin circles, including many prominent bitcoin developers. It is a FinTech company that works to provide blockchain applications. They offer both software and hardware solutions for the deployment of blockchain-based networks. Some of their most popular initiatives include: Bitcoin Core, Elements Project, Lightning Network, Confidential Assets and Hyperledger among others. The company was co-founded by Adam Back, Austin Hill, Gregory Maxwell and others. In the forefront, is Adam Back, as the CEO and Gregory Maxwell as the Chief Technical officer. # Conclusion While there is a general sense of excitement over a Bitcoin transaction in space; some feel Blockstream is doing nothing earth shattering. They say it's a lot cheaper to beam solar power in blocks from space to Earth, than as electricity. A similar project was attempted by BitSat in 2014 by Bitcoin Core developer Jeff Garzik, but he later suspended the project. [On Reddit](https://www.reddit.com/r/btc/comments/6tudl7/blockstream_satellite_is_broadcasting_the_bitcoin/), he speaks about Blockstream’s satellite network as a *centralization* of the Blockchain. Space-age mining comes with many advantages and there are many satellite systems competing in this area. So we may witness a lot of cryptos flying in space. --- *Would you be doing a Bitcoin transaction in space anytime soon? Is that beta for you? Your thoughts are important to us.* --- Author: @knowledge1